The Hughes Team

Colorado Springs Real Estate by Hughes


2011 foreclosure rate in Colorado Springs lowest since recession began

In an article published by the Gazette, 3,603 homes or other property saw foreclosure filings in 2011, a 25.4 percent drop from the previous year according to the El Paso County Public Trustee's Office. Last year's foreclosure filings were the fewest since 2007.

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http://www.realestatebyhughes.com/00BEAD
Posted on January 18, 2012 10:31:54 by The Hughes Team
 

What to expect when selling home at a loss

There is no relief or tax deduction for selling your home at a loss.  Another debated issue is the deductibility of  loan fees. You can only deduct the loan fees (points) paid to buy or improve your home in the year of purchase. You cannot deduct these fees if you refinanced only to obtain a lower interest rate. According to the IRS, most points paid when you are refinancing an existing mortgage must be written off over the life of the new loan.

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http://www.realestatebyhughes.com/00B8D8
Posted on April 23, 2011 09:36:55 by The Hughes Team